1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Greeley [361]
3 years ago
13

(Learning Outcome 2) Watson Plumbing performed plumbing services for ABC Daycare on account for $565. How will this transaction

affect ABC Daycare's accounting equation?
Business
1 answer:
Strike441 [17]3 years ago
7 0

Answer:

ABC Daycare

Effect of Performing Plumbing Services on account on the Accounting Equation:

Assets (Accounts receivable) will increase by $565 and Equity (Retained Earnings) will equally increase by $565

Explanation:

a) Data and Analysis:

Accounts receivable $565 Service Revenue $565

The accounting equation that equals assets to liabilities and equity is always true at all times and with every correctly posted transaction.  It implies that assets are financed through the contributions made by either the owners (equity) or the creditors (debts), or a combination of the two.  This equation forms the basis for the double-entry system of financial accounting.

You might be interested in
J&R Renovation, Inc., is trying to determine its cost of debt. The firm has a debt issue outstanding with 16 years to maturi
g100num [7]

Answer:

After tax cost of debt = 5.44*(1-0.35)% = 3.54%

Explanation:

PV = 106

PMT = 6/2 =-3

N = 16*2 = 32 semi annual

FV = -100

Semi annual yield = 2.72%

Annual cost of debt = 2.72%*2 = 5.44%

After tax cost of debt = 5.44*(1-0.35)% = 3.54%

Using Rate function in Excel or Financial calculator

6 0
3 years ago
December 31, Year 1, the Loudoun Corporation estimated that 3% of its credit sales of $112,500 would be uncollectible. Loudoun u
allochka39001 [22]

Answer:

A. NA = NA + NA NA -NA = NA NA NA

Explanation:

As Year 2 the customer paid Loudoun the $1,050,which was written off On April 4, Year 1.

Therefore, the following journal entries to record the transaction.

Accounts receivable                     debit $1,050

Allowance for doubtful accounts credit $1,050

To record reinstatement of accounts receivable.

Cash                           debit $1,050

Accounts receivable credit $1,050

As one asset account is increase and another asset account is decreased.

7 0
3 years ago
The ratio that measures how much an investor is willing to pay for a dollar of earnings is known as a _____________ ratio.
zzz [600]

Answer:

A)Market value

Explanation:

The market value ratios can be regarded as the financial metrics that are engaged in evaluation of worth of stocks of the companies that trade publicly. The ratio helps the investors to know if the price of prevailing market share is in sync along with the performance of the company. It should be noted that The ratio that measures how much an investor is willing to pay for a dollar of earnings is known as a market value ratio.

4 0
2 years ago
The minimum wage is increased from $7.25 to $9.00 per hour. Calculate the elasticity of demand for fast food workers over the re
deff fn [24]

Answer:

As the question was not complete. I have attached the complete question in the attachment. Please refer to attachment.

Explanation:

<em>By using, LD = 95- 3w and w1 = 7.25 and w2 = 9. We get, </em>

<em>LD1 = 95-3(7.25) = 73.25 </em>

<em>LD2 = 95-3(9) = 68 </em>

Elasticity = Change in labor demand/ change in wage rate = ((68- 73.25)/ 73.25)/ ((9-7.25/7.25)) = -0.33

The 11 percent change in the wage rate causes, 33% change in labor demanded, as shown by the elasticity, the labor demand decreases with increase in wage rate.

4 0
3 years ago
The Clemson Company reported the following results last year for the manufacture and sale of one of its products known as a Tam.
serious [3.7K]

Answer:

See below

Explanation:

According to the information above, there would be no sales if TAM is discontinued as there would be no cost traced to it safe for $145,000 for fixed manufacturing overhead.

We already know that the net operating loss was $55,000 the fixed manufacturing overhead of $145,000 would further increase the loss by $90,000

5 0
2 years ago
Other questions:
  • Unicorn sports inc. manufactures and distributes athletic wear, sporting equipment, and protective sports gear worldwide. they a
    7·2 answers
  • Plastic Pretzels stock recently paid a dividend of $1.39 per share. The dividend growth rate is expected to be 3.60% indefinitel
    9·1 answer
  • Your résumé should be one-of-a-kind. True False?
    10·1 answer
  • Suave's new shampoo, HI7, is faltering badly in the market. Suave's marketing personnel are unsure who is responsible for variou
    13·1 answer
  • Explain how various business environment factors including technology, society trends, and globalization affect business decisio
    15·1 answer
  • Anna decides to add new sales representatives and increase advertising to increase sales in her existing market for her current
    7·1 answer
  • Presented below is information for Wildhorse Co. for the month of January 2017 Cost of goods sold Freight-out Insurance expense
    12·1 answer
  • Jessica is considering putting $50 into a money market account that pays a 4 percent annual interest rate. It will take year(s)
    9·1 answer
  • Problems of privatization?
    5·1 answer
  • What is a primary difference between a note receivable and an account receivable?
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!